Shareholder Presentation
Perth, Sep 23, 2014 AEST (ABN Newswire) - On 28 July 2014, Liquefied Natural Gas Limited (
ASX:LNG) (LNGLY:OTCMKTS) announced that it had agreed to acquire 100% of the issued and outstanding capital of Bear Head LNG Corporation (BHLC) from a subsidiary of Anadarko Petroleum Corporation (Anadarko), and 100% of the Project Rights associated with a Project Site located in Richmond County, Nova Scotia, Canada (the Transaction) for US$11.0 million.
- The Transaction was finalised on 27 August 2014. The Company raised A$38.6 million (pre-costs) from US and Australasian institutional investors to primarily fund the acquisition and the development of Bear Head LNG Project.
- The Key Assets of BHLC include:
The Project Site in Northern Nova Scotia, comprising (i) Land Lot: 180 acres of industrial-zoned land (~800m length x 890m wide) and (ii) Water Lot: 75 acres of land and water covered land (~330m length x 890m wide); and
The Project Rights in relation to the previously proposed LNG import terminal at the Project Site, including all assets, rights and obligations associated with the Bear Head project.
- Plans to transform the Bear Head LNG Project (Bear Head) into a 4 mtpa LNG export facility with potential for future expansion.
- LNGL has already developed a gas supply plan and a transportation plan, and has interest from several parties to enter into Tolling Agreements, adopting the same business model as the Magnolia LNG Project in Louisiana, USA.
- Bear Head acquisition is consistent with LNG Limited's strategy of acquiring sites in North America where the Company can replicate its Magnolia LNG Project and fast-track development by using existing LNG Limited development team and OSMR(R) LNG technology.
To view the latest company presentation, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-LNG-692119.pdf
About Liquefied Natural Gas Ltd
Liquefied Natural Gas Limited (
ASX:LNG) (OTCMKTS:LNGLY) (LNGL) is an ASX listed company whose portfolio consists of 100% ownership of the following companies:
- Magnolia LNG, LLC (Magnolia LNG), a US-based subsidiary, which is developing an eight mtpa or greater LNG export terminal, in the Port of Lake Charles, Louisiana, USA;
- Bear Head LNG Corporation Inc. (Bear Head LNG), a Canadian-based subsidiary, which is developing an 8 – 12 mtpa LNG export terminal in Richmond County, Nova Scotia, Canada with potential for further expansion;
- Bear Paw Pipeline Corporation Inc. (Bear Paw), which is proposing to construct and operate a 62.5 km gas pipeline lateral to connect gas supply to Bear Head LNG; and
- LNG Technology Pty Ltd, a subsidiary which owns and develops the Company's OSMR® LNG liquefaction process, a midscale LNG business model that plans to deliver lower capital and operating costs, faster construction, and improved efficiency, relative to larger traditional LNG projects.
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